HONOLULU –Hawaii Commissioner of Securities Tung Chan has issued a Preliminary Order to Cease and Desist and Notice of Right to Hearing against self-described mortgage broker Nani Laura Kiyabu (“Kiyabu”).

The order alleges that, in December 2007, Kiyabu began to solicit a Hawaii investor to invest with Kiyabu’s “friend” who earned profits by investing in offshore investments. In Kiyabu’s solicitation to the investor, she guaranteed the investor’s principal investment and promised that her money would double by the new year, Jan.1, 2009. The order alleges that Kiyabu used the investor’s money on personal expenses and there was actually no friend and no offshore investment.

The order also alleges that Kiyabu sold the investments without being properly registered with the Office of the Commissioner of Securities. Moreover, the order alleges that Kiyabu made numerous misrepresentations and failed to disclose material facts in her communications with the investor in connection with the offer and sale of the securities, thus violating the state securities laws’ anti-fraud provisions.

The order seeks penalties of $25,000 in addition to a permanent injunction against transacting securities in the state, rescission, and restitution for investors.

Anyone who has been solicited by and invested with Kiyabu, or who may have information about this matter, is urged to contact the state Securities Enforcement Branch.

Securities Enforcement Branch

Oahu (808) 586-2740

Kauai: (808) 274-3141, followed by 62740 and the # sign

Maui: (808) 984-2400, followed by 62740 and the # sign

Hawaii: (808) 974-4000, followed by 62740 and the # sign

Lanai and Molokai: 1-800-468-4644 (toll free), followed by 62740 and the # sign